No need for concern over ECOFIN delay

The hoped-for early festive present from European finance ministers will not arrive in time for Christmas.

It’s after ECOFIN delayed endorsing the Island’s zero-10 regime.

The body had been expected to approve the revised corporate tax scheme, following the recommendations of the EU Code of Conduct Group.

However, the item was removed from ECOFIN’s agenda until next month.

Chief Minister Allan Bell says we shouldn’t be unduly concerned.

Earlier this year, an element of zero 10, the Attribution Regime for Individuals, was killed off after European countries claimed gave the Island a harmful tax system.